Registration number:
Stormking Investments Ltd
for the
Year Ended 31 December 2024
Stormking Investments Ltd
Contents
of The Financial Statements
for the
Year Ended 31 December 2024
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Company Information |
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Accountants' Report |
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Balance Sheet |
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Statement of Changes in Equity |
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Notes to the Unaudited Financial Statements |
Stormking Investments Ltd
Company Information
for the
Year Ended 31 December 2024
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Directors |
Mr M L Green Mrs J G R Green |
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Registered office |
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Accountants |
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Chartered
Certified
Accountants' Report to the
Board of Directors
on the Preparation of the Unaudited Statutory Accounts of
Stormking Investments Ltd
for the
Year
Ended
31 December 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Stormking Investments Ltd for the year ended 31 December 2024 as set out on pages 3 to 11 from the company's accounting records and from information and explanations you have given us.
As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at
http://www.accaglobal.com/gb/en/discover/public-value/rulebook.html.
This report is made solely to the Board of Directors of Stormking Investments Ltd, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Stormking Investments Ltd and state those matters that we have agreed to state to the Board of Directors of Stormking Investments Ltd, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/gb/en/technical-activities/technical-resources-search/2009/
october/factsheet-163-audit-exempt-companies.html. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Stormking Investments Ltd and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that Stormking Investments Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and loss of Stormking Investments Ltd. You consider that Stormking Investments Ltd is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of Stormking Investments Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.
......................................
Chartered Certified Accountants
Shoeburyness
Essex
SS3 9QE
Stormking Investments Ltd
(Registration number:
12346453
)
Balance Sheet
as at
31 December 2024
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Note |
2024 |
2023 |
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Fixed assets |
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Tangible assets |
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Current assets |
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Debtors |
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Investments |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
( |
( |
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Net current assets |
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Total assets less current liabilities |
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Provisions for liabilities |
( |
( |
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Net assets |
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Capital and reserves |
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Called up share capital |
100 |
100 |
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Retained earnings |
73,807 |
81,094 |
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Shareholders' funds |
73,907 |
81,194 |
For the financial year ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
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• |
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• |
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
Approved and authorised by the
Stormking Investments Ltd
(Registration number:
12346453
)
Balance Sheet
as at
31 December 2024
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......................................... |
Stormking Investments Ltd
Statement of Changes in Equity for the Year Ended 31 December 2024
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Share capital |
Retained earnings |
Total |
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At 1 January 2024 |
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Loss for the year |
- |
( |
( |
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Dividends |
- |
( |
( |
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At 31 December 2024 |
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Share capital |
Retained earnings |
Total |
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At 1 January 2023 |
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Profit for the year |
- |
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At 31 December 2023 |
100 |
81,094 |
81,194 |
Stormking Investments Ltd
Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024
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General information |
The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
These financial statements were authorised for issue by the
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Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
Revenue recognition
Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.
The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.
Stormking Investments Ltd
Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024
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2 |
Accounting policies (continued) |
Foreign currency transactions and balances
Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.
Tax
The tax expense for the period comprises deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.
Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.
Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.
Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.
Tangible assets
Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.
Depreciation
Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:
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Asset class |
Depreciation method and rate |
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Office equipment |
33% straight line |
Stormking Investments Ltd
Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024
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2 |
Accounting policies (continued) |
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Motor vehicles |
20% reducing balance |
Investments
Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.
Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Trade debtors
Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.
Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.
Stormking Investments Ltd
Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024
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2 |
Accounting policies (continued) |
Share capital
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.
Dividends
Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.
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Staff numbers |
The average number of persons employed by the company (including directors) during the year, was
Stormking Investments Ltd
Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024
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Tangible assets |
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Furniture, fittings and equipment |
Motor vehicles |
Total |
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Cost or valuation |
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At 1 January 2024 |
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At 31 December 2024 |
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Depreciation |
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At 1 January 2024 |
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Charge for the year |
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At 31 December 2024 |
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Carrying amount |
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At 31 December 2024 |
- |
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At 31 December 2023 |
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Debtors |
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Current |
2024 |
2023 |
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Other debtors |
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Current asset investments |
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2024 |
2023 |
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Other investments |
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Creditors |
Creditors: amounts falling due within one year
Stormking Investments Ltd
Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024
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7 |
Creditors (continued) |
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2024 |
2023 |
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Due within one year |
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Taxation and social security |
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Accruals and deferred income |
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Other creditors |
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Share capital |
Allotted, called up and fully paid shares
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2024 |
2023 |
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No. |
£ |
No. |
£ |
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100 |
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100 |